Paytm loss increased by 45% to Rs 778 crore in Q3, while revenue increased by 89%

Fintech’s Paytm’s revenue rose 89 per cent year-on-year to Rs 1,456 crore in the December quarter (Q3)

While net loss rose 45 per cent to Rs 778 crore.

However, the company’s profit growth (defined as revenue from operating costs, lower processing fees, incentive cashback and incentives and other direct expenses) increased from 8.9 per cent in FY21 to Q3 in FY22 to 31.2 per cent in Q3.

“We continue to expand our customer and merchant base. The number of customers on our site now stands at over 350 million, and our business platform has expanded from 20 million a year ago to 24.9 million, ”the company said.

Fintech’s Paytm’s revenue rose 89 per cent year-on-year to Rs 1,456 crore in the December quarter (Q3), while net loss rose 45 per cent to Rs 778 crore.

However, the company’s profit growth (defined as revenue from operating costs, lower processing fees, incentive cashback and incentives and other direct expenses) increased from 8.9 per cent in FY21 to Q3 in FY22 to 31.2 per cent in Q3.

“We continue to expand our customer and merchant base. The number of customers on our site now stands at over 350 million, and our business platform has expanded from 20 million a year ago to 24.9 million, ”the company said.